Q1 Results 2024: Vodafone Idea, NMDC, Voltas, Happiest Minds Technologies, Senco Gold, and others to report Q1 earnings today

Param Desai, Senior Research Analyst, PL Capital – Prabhudas Lilladher, said, “Zydus Lifesciences (ZYDUSLIF) Q1 EBITDA of Rs21.1bn was 17% above our estimate aided by higher US sales. We believe the company’s steady domestic franchise, strong balance sheet and potential new launches in the US will help negate pricing pressure and likely competition in some key products like gAsacol. Moreover, ZYDUSLIF is working on a robust pipeline of complex products, including injectables, transdermals, NCE, biosimilars and vaccines, which are expected to materialize over the next 2–3 years. Our FY25/26E EPS stands increased by 18.4%/15.7% for FY25E/26E as we factor in higher US sales and margins.”

“Zydus Lifesciences showed revenue growth of 20% YoY to Rs60.5bn, above our estimates. Domestic formulation delivered growth of 12% YoY vs our estimate of 8% growth. Consumer business also grew strong by 21% YoY. US sales came in at $371mn (our est. of $330mn) vs USD 304mn in Q4FY24.The QoQ growth was aided by new launches like Mirabegron and gRevlimid. Emerging markets were up by 9% YoY. API markets remained flat YoY,” he added.

The company successfully completed the subscription of a QIP for Rs 200 crore on August 5, 2024. Sushil Suri, Chairman and Managing Director, Morepen Laboratories, said, “This strategic fundraise marks a pivotal point in the company’s growth journey. With the influx of this new capital, we will accelerate our capacity expansion plans and broaden our market reach.” He further added, “With this fresh infusion of capital, the company can clearly focus on its two growth engines – Medical Devices & Pharma – and reposition itself for growth in select categories with an end-to-end supply chain from manufacturing to marketing. We will have an increased focus on research and backward integration, fostering innovation and cost reduction, thereby positioning the company as a reliable partner for global outsourcing in both the Medical Devices and Pharma sectors for export markets.”

Morepen Laboratories Ltd on Monday reported a profit jump of 147.2 per cent for the first quarter of FY25 at Rs 36.17 crore in comparison to Rs 14.63 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 455.22 crore, up 13.5 per cent as against Rs 401.04 crore during the same period of previous financial year. This announcement follows a week after the successful completion of a Rs 200 crore fundraise through Qualified Institutional Placements (QIP) on August 5, 2024, the company said.

Param Desai, Senior Research Analyst, PL Capital – Prabhudas Lilladher, said, “HealthCare Global Enterprises (HCG) Q1 consolidated EBITDA grew by 22% YoY (down 1% QoQ) to Rs. 909mn; in line with our estimates. We expect margins to improve further, as the benefit of ramp up in occupancy across centers should aid better operating leverage along with scale up in new centers. The company’s asset light approach with focus on partnering has made its business model more capital efficient and scalable, in our view. Our FY25/FY26E EBITDA stands increased by 6% and 11% as we factor in MG hospital acquisition while PAT stands reduced by 5% in FY26. We expect 26% EBITDA CAGR over FY24-26E. At CMP, the stock trades at 13x FY26E EV/EBITDA adjusted for rentals.”

Analysts at InCred Equities said, “Q1FY25 consolidated net sales of Berger Paints India (Berger) grew by 2% yoy to Rs30.9bn. Standalone sales at Rs28bn were up by 2.4% yoy. Volume growth stood at 11.8% in 1Q, led by price cuts of 5% taken in 3Q/4QFY24 and an inferior sales mix. Sales at the luxury-end were subdued led by muted demand from Kerala and West Bengal, which otherwise have a higher salience of luxury sales for Berger. Construction chemicals and waterproofing business performed well. Project business performance was decent, led by the real estate sector. Distribution expansion continued in an aggressive manner, adding 1,900+/1,800+ touchpoints/tinting machines.”

Voltas Ltd on Monday released its fiscal first quarter earnings with profit at Rs 334.23 crore, posting a growth of 158.5 per cent in comparison to Rs 129.29 crore during the corresponding quarter of FY24. Voltas said that the Q1 profit was the highest quarterly profit reported by the company. It reported revenue from operations at Rs 4921.02 crore, up 46.5 per cent as against Rs 3359.86 crore during the same period of previous financial year. The company EBITDA stood at Rs 424 crore. It also reported a volume growth of 67 per cent in Q1FY25 in Unitary Cooling Products.

Today, almost around 400 companies are to release their Q1 earnings and these include Indian Railway Finance Corporation, Vodafone Idea, NMDC, Housing & Urban Development Corporation, Voltas, SJVN, Hindustan Copper, Natco Pharma, Cera Sanitaryware, Happiest Minds Technologies, Balrampur Chini Mills, Campus Activewear, Power Mech Projects, Senco Gold, Orchid Pharma, Borosil Renewables Ltd, Tilaknagar Industries, Gensol Engineering, and many others.

The fiscal first quarter earnings season almost at its end with major companies like TCS, HCL Technologies, Infosys, Wipro, Tech Mahindra, Infosys, Nestle India, HUL, Nestle, Adani Wilmar, GCPL, LIC, Reliance Industries, IOCL, HPCL, Bharti Airtel, HDFC Bank, SBI, Paytm, Vedanta, TVS Motor, Berger Paints, Tata Motors, Maruti Suzuki, and many others already having released their Q1 results. Through these daily live blogs, we have been continuously bringing you all the updates on the Q1 numbers being released by the companies across sectors, and these remaining few days as well, we will keep you updated on the profits, revenue earned, year guidance posted by companies. Stay tuned.